JPMorgan Chase & Co. Reiterates Neutral Rating for Match Group (NASDAQ:MTCH)

Match Group (NASDAQ:MTCH)‘s stock had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co. in a note issued to investors on Wednesday,Benzinga reports. They currently have a $33.00 price target on the technology company’s stock, down from their prior price target of $40.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 4.50% from the stock’s previous close.

MTCH has been the subject of a number of other research reports. Wells Fargo & Company dropped their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Morgan Stanley decreased their price objective on shares of Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Stifel Nicolaus dropped their price target on Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Match Group in a research report on Tuesday. Finally, StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Thirteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.68.

Match Group Trading Down 2.4 %

Shares of NASDAQ:MTCH opened at $31.58 on Wednesday. Match Group has a 12-month low of $27.66 and a 12-month high of $42.42. The stock’s 50-day moving average price is $34.12 and its two-hundred day moving average price is $34.21. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.18 and a beta of 1.47.

Match Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to buy up to 19% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Starboard Value LP acquired a new stake in shares of Match Group during the 3rd quarter worth approximately $361,605,000. Versor Investments LP raised its stake in shares of Match Group by 301.7% in the third quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock worth $1,824,000 after acquiring an additional 36,200 shares during the last quarter. Paloma Partners Management Co lifted its holdings in Match Group by 510.3% during the 3rd quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock worth $2,463,000 after buying an additional 54,422 shares in the last quarter. Aviance Capital Partners LLC acquired a new position in shares of Match Group during the third quarter valued at $2,170,000. Finally, Mawer Investment Management Ltd. lifted its position in Match Group by 71.4% during the 3rd quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock valued at $24,344,000 after purchasing an additional 267,890 shares during the period. 94.05% of the stock is owned by institutional investors.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.